Adam Smith：The Wealth of Nations, Book II, Chapter II, Paragraph 789

In 1697, the bank was allowed to enlarge its capital stock, by an ingraftment of £1,001,171:10s. Its whole capital stock, therefore, amounted at this time to £2,201,171: 10s. This ingraftment is said to have been for the support of public credit. In 1696, tallies had been at forty, and fifty, and sixty, per cent. discount, and bank notes at twenty per cent. {James Postlethwaite’s History of the Public Revenue, p.301.} During the great re-coinage of the silver, which was going on at this time, the bank had thought proper to discontinue the payment of its notes, which necessarily occasioned their discredit.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book II, Chapter II, paragraph 789 · Verified：2026-10-19 · Verification：Exact match

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